Life interest Trusts

When making Wills many couples (those who are married or who have entered into a civil partnership) leave everything they own (their estate) to their surviving spouse or civil partner (their spouse) on the death of the first of them to die. On the death of the first spouse to die their estate would pass …

Inheritance Tax

The inheritance tax regulations changed in 2007 when the “transferable nil rate band” was introduced. Everyone is entitled to a nil rate band for inheritance tax. The nil rate band is currently £325,000. Assets that pass from one spouse or civil partner are exempt from inheritance tax. So if on death someone leaves everything they …